Pine Valley Investments Ltd Liability Co Grows Stock Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Pine Valley Investments Ltd Liability Co increased its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 13.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 18,390 shares of the company’s stock after acquiring an additional 2,230 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in PureCycle Technologies were worth $188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Keudell Morrison Wealth Management acquired a new position in shares of PureCycle Technologies in the 4th quarter worth approximately $117,000. Truist Financial Corp acquired a new position in PureCycle Technologies during the fourth quarter worth $145,000. Prospera Private Wealth LLC boosted its position in shares of PureCycle Technologies by 35.9% during the third quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock worth $147,000 after buying an additional 4,080 shares during the period. Bar Harbor Wealth Management acquired a new stake in shares of PureCycle Technologies in the fourth quarter valued at $154,000. Finally, Focused Wealth Management Inc raised its holdings in shares of PureCycle Technologies by 27.9% in the 4th quarter. Focused Wealth Management Inc now owns 16,605 shares of the company’s stock valued at $170,000 after buying an additional 3,620 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen raised their target price on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, November 19th. Finally, Stifel Nicolaus upped their target price on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th.

PureCycle Technologies Price Performance

PCT stock opened at $9.22 on Friday. PureCycle Technologies, Inc. has a 1 year low of $4.50 and a 1 year high of $15.58. The firm has a market capitalization of $1.60 billion, a P/E ratio of -6.15 and a beta of 1.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The business’s 50-day moving average is $9.74 and its two-hundred day moving average is $9.85.

Insider Activity at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were purchased at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the acquisition, the insider now directly owns 34,077,574 shares of the company’s stock, valued at $274,665,246.44. This represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is owned by corporate insiders.

About PureCycle Technologies

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.